Ron Burgundy Posted October 4, 2015 Share Posted October 4, 2015 By Byron Kaye and Swati Pandey SYDNEY (Reuters) - Australian businesses are turning their backs on bitcoin, as signs grow that the cryptocurrency's mainstream appeal is fading. Â Â Â Â Concerns about bitcoin's potential crime links mean many businesses have stopped accepting it, a trend accelerated by Australian banks' move last month to close the accounts of 13 of the country's 17 bitcoin exchanges. The development is a blow to hopes of bitcoin fans that the currency can play a significant role in everyday business transactions in developed economies, with Australia once seen as one of its most promising markets. "We've got a squeaky clean reputation, and that's actually worth a lot more to us than dipping into this," said James Snodgrass, principal of Sydney's Forsyth Real Estate, which ditched the currency in late 2014 after the firm was investigated by the federal tax office. View the full article Quote Link to comment Share on other sites More sharing options...
Recommended Posts
Join the conversation
You can post now and register later. If you have an account, sign in now to post with your account.